If you have ever paid a monthly fee to a dating site, an investment site, or a membership site you know that membership sites can be expensive. On the other hand, if it’s your membership site you have a great money making tool.
I researched starting a investment membership site some months ago and here’s what I learned. First the software can be very expensive and normally is charged annually. The fee ranges from a few $100 – $1,000/year and can be very complicated to set up.
You are also going to need quite a bit of informational articles and other information that members wouldn’t normally get else where. Another words your going to need some pretty unique and valuable information that isn’t provided anywhere else online otherwise why would anyone pay a monthly fee.
There are several membership sites that will sell you pre-written ready to use content however it won’t be unique nor up to date. This rules out this potential option. You could also hire a freelancer to write up your membership content but that would be relatively expensive, time consuming, and may not pay off.
The final option is to create the content yourself which although it may take some time would provide the most valuable and unique content available. If your creating income from other projects while setting up the membership site you could pull off a pretty decent potential passive income.
Then all you would need to do is advertise your new membership site and start accumulating passive income. Obviously you will also need to add new content and information but it would be much more manageable when your collecting the membership fees every month.